YEREVAN, November 3. /ARKA/. Armenian banks’ assets grew 6.7% or by AMD 88.6 billion over the third quarter and totaled AMD 1417.8 billion by late September, the Central Bank of Armenia says in its quarterly review.

Cash in banks grew 7.1% or by AMD 4.6 billion over the quarter to AMD 68.7 billion.

Aggregate claims to banks and other financial organizations shrank by 1% or AMD 843.3 million to AMD 80.2 billion.

Banks’ claims to the central bank (including correspondent accounts) grew 0.9% or by 1.3 billion to AMD 136.7 billion.

Banks’ aggregate correspondent accounts in banks reached AMD 72.1 billion by late September after growing 15.3% or by AMD 9.6 billion over the third quarter.

The reserve intended for covering possible losses on assets grew 1.2% or by AMD 202.3 million to AMD 17.5 billion.

Banks also enlarged lending for legal entities and individuals in the 3^rd Q.

In particular, the aggregate loans extended to legal entities grew 8.7% or by AMD 37.6 billion to AMD 470.1 billion, and those extended to individuals grew 1.3% or by AMD 4 billion to AMD 302.1 billion.

The loans extended to banks’ personnel and people related to banks grew 34.6% to AMD 38.2 billion.

The central bank also says that the banks’ total investment in government securities grew 14.1% or by AMD 15.9 billion to AMD 128.3 billion.

Their investments in other securities grew 17.7% to AMD 6 billion.

Leasing and factoring operations totaled AMD 20.7 billion by late September after growing 50.7% over the third quarter.

Banks’ general funds totaled AMD 64.5 billion in late September against AMD 64.4 billion in late June.

Interests receivable amounted to AMD 12.8 billion (2.5% growth) and other assets AMD 34.8 billion in late September against 33.7 billion in the beginning of the quarter.

Some 21 banks with their 400 branches functioned in Armenia in late September. ($1 = AMD 358.48). -0-